@sentosumosaba - I completely agree, I would love it if @GaryGensler would explain the supposed "clarity" he touted at the Aspen Security Forum based on the growing twitter fire. Gary, have you seen the posts by @digitalassetbuy lately?
@GaryGensler - here is a link to a video of your comments if you've forgotten you said "I actually think there is a FAIR AMOUNT OF CLARITY"
3/9
In that video, you also say "the probability is quite remote that with 50 plus tokens, that none of them are securities - it just sort of belies the arithmetic that I've learned and how I learned to think about probabilities at @MITMath"
Fair enough - but conversely...
4/9
The @SECGov is now saying that haven't taken an official position about the clarity of $ETH
How many #DigitalAssets has the @SECGov clarified are NOT securities? Well, I only need one hand for that. I'll be generous and say you've given clarity on 4
5/9
@CoinMarketCap states there are 11,415 cryptocurrencies. Being generous and saying you've given clarity to 4, that would mean the @SECGov has given the green light to less than 🥁🥁...
0.04% - #MIT is a great school, one I considered going to, but consider the following:
6/9
Providing clarity to less than 0.04% of cryptos (and that is a GENEROUS calculation), it just sort of belies the arithmetic that I've learned and how I learned to think about probabilities from my minor in #Mathematics and BSME from @uofigrainger and MSME from @LifeAtPurdue
7/9
@GaryGensler - look in the mirror and tell me how providing clarity to less than 0.04% of #DigitalAssets is any type of guidance or the "clarity" that you tout, from the final tweet below - it sounds like @Coinbase's team, several other exchanges, and the world disagree!
8/9
@GaryGensler, if things are so clear then how did the legal team of @coinbase after working diligently without other outside counsel and by meeting with the @SECGov numerous times come to the conclusion to list $XRP - did all those lawyers and regulators just the clarity?
9/9
when I watch the video from the tweets below, it sounds like it was @coinbase's opinion that $XRP was not a security. Seriously, stop this nonsense - let's be honest and start nurturing US innovation.
Some additional interesting clips from Consensus 2019: Perspectives on SEC Engagement concerning digital assets.
Full video below, but comments and thoughts in following thread.
2/n
Note that the participants include: 1. Amy Starr (Chief of the Office of Capital Markets Trends in the Division of Corporate Finance of the @SECGov)
2. Dorothy DeWitt (General Counsel - Business Lines and Markets at Coinbase)
3/n
Also note that Amy gave her "these are my personal views" disclaimer - I'm trying to figure out when any of these officials at the SEC ever discuss views of the agency, perhaps the agency has no views